Technical Analysis DayTradeIdeas

Technical Analysis DayTradeIdeas

04 March

1. 1. Emini S&P March crashed on the tariff announcement
   The low & high for the last session were 5822 – 6000.
   (To compare the spread to the contract you trade)
   .
2. 2. Emini Nasdaq March longs at the buying opportunity at 20450/350 worked perfectly with a low for the day here.
   Last session high & low for the last session were: 20317 – 21121.
   .
3. 3. Emini Dow Jones March longs at support at 43100/43000 worked perfectly.
   Last session high & low for the last session were: 42988 – 44121.
   .

Emini S&P March futures

• * Emini S&P initially climbed to 6000, unfortunately not quite reaching the sell opportunity at 6010/20, then crashed 178 points on the new tariff announcement.
• * We held just above 5815/10 but below here today can target support at 5770/5760.
• * The buying opportunity at 5770/5760, longs need stops below 5750.
• * A break below 5750 is a sell signal targeting 5725/20.
• * After yesterday’s bearish engulfing candle gains are likely to be limited with resistance at 5913/23 & shorts need stops above 5930.

• * Targets: 5890, 5870, 5850
  

Nasdaq March futures

• * Emini Nasdaq made a low for the day exactly at the buying opportunity at 20450/350 & longs need stops below 20250 on a retest today.
• * A break lower sees 20350/450 act as resistance targeting 20050/2000 for profit taking.
• * Longs at 20450/350 can target 20750/800 for profit taking.
• * Resistance at 21050/140 & shorts need stops above 21200.
  * Targets: 20900, 20800

Emini Dow Jones March futures

• * Unfortunately shorts at first resistance at 43750/850 stopped above 44000 this time before prices crashed to support at 43100/43000.
• * A low for the day exactly here but longs need stops below 42850.
• * Targets: 43350 & 43500 for profit taking.

• * Resistance at 43650/750 & shorts need stops above 43900.

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Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.

Please email me if you need this report updated or Whatsapp: +66971910019 – To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk

Jason Sen, Director

https://www.daytradeideas.co.uk

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